Stocks slip ahead of US jobs data, eyes on stimulus talks
Stock markets turned lower on Thursday ahead of weekly U.S. data on jobless claims and as investors watched to see if U.S. lawmakers will come ahead with fresh stimulus for the world's largest economy.
Many more likely sought jobless aid amid resurgence of virus
WASHINGTON (AP) — With the nation still gripped by an alarming resurgence of coronavirus cases, the U.S. government will provide its latest snapshot Thursday of the layoffs that have remained elevated at a weekly pace above 1 million since the pandemic erupted in March.
Bank of England says economy will take time to heal
LONDON (AP) — The Bank of England predicted Thursday that the economic downturn in the U.K. economy might be less severe than it thought at the start of the COVID-19 pandemic - even as it warned it would take a longer time to heal the scars.
Obama's Medicaid expansion keeps gaining ground under Trump
WASHINGTON (AP) — President Donald Trump is still trying to overturn “Obamacare,” but his predecessor's health care law keeps gaining ground in places where it was once unwelcome.
Nintendo profit zooms as virus has homebodies playing games
TOKYO (AP) — Nintendo Co.'s profit multiplied more than sixfold in April-June as people stuck at home during the pandemic turned to playing video games.
Lufhansa see revenues drop 80%, no full recovery until 2024
FRANKFURT, Germany (AP) — German airline group Lufthansa on Thursday reported a net loss of 1.49 billion euros ($1.77 billion) for the second quarter, when the pandemic essentially shut down passenger traffic, and issued a sobering forecast for demand to not reach pre-virus levels before 2024.
Surge in German factory orders bolsters hope for recovery
BERLIN (AP) — German factory orders surged in June, according to figures released Thursday, giving hope that Europe's largest economy is on track for a recovery from declines suffered from the coronavirus pandemic lockdown earlier in the year.
Toyota's profit plunges as pandemic halves vehicle sales
TOKYO (AP) — Toyota’s profit plunged 74% in the last quarter as the coronavirus pandemic sank vehicle sales to about half of what the top Japanese automaker sold the previous year.
AAA: Partially automated driving systems don't always work
DETROIT (AP) — Two tests by AAA during the past two years show that partially automated driving systems don’t always function properly, so the auto club is recommending that car companies limit their use.
Asian shares mixed as US talks on stimulus still stalled
Stocks were mixed in Asia on Thursday despite strong gains overnight on Wall Street, where the rally just kept on rolling. Investors are watching to see if lawmakers will come ahead with fresh stimulus for the U.S.
Capitol negotiators still stuck, still trying on virus aid
WASHINGTON (AP) — After more than a week’s worth of meetings, at least some clarity is emerging in the bipartisan Washington talks on a huge COVID-19 response bill.
US talks tougher on Chinese tech, but offers few specifics
NEW YORK (AP) — U.S. Secretary of State Mike Pompeo on Wednesday called for a big expansion of U.S. government curbs on Chinese technology, saying that it wants to see “untrusted Chinese apps" pulled from the Google and Apple app stores.
FAA: Boeing pressured safety workers at SC aircraft plant
Federal officials are seeking to fine Boeing $1.25 million, saying Wednesday that company managers pressured employees who were designated to perform safety-related work for the government at an aircraft factory in South Carolina.
Fed should address racial gaps in jobs, income, Dems propose
A group of congressional Democrats introduced legislation Wednesday that would require the Federal Reserve to pursue the elimination of racial disparities in jobs, wealth and income as one of its policy goals.
Virginia first to roll out pandemic app from Apple, Google
RICHMOND, Va. (AP) — Virginia has rolled out a smartphone app to automatically notify people if they might have been exposed to the coronavirus, becoming the first U.S.
Fiat Chrysler to recall vehicles that may pollute too much
DETROIT (AP) — About 1 million Fiat Chrysler vehicles with four-cylinder engines in the U.S. may spew too much pollution, and the company is working with government officials on a recall.
GOP senators support more money for airlines to pay workers
A group of 16 Republican senators has endorsed giving more money to airlines to avoid layoffs right before the November election, giving a boost to a lobbying effort by airlines and their unions.
Samsung's new phones test consumer demand for pricey gadgets
Samsung aims to lift its sinking smartphone sales with three new models that will test consumer willingness to buy high-priced gadgets during the worst economic downturn since the Great Depression.
Facebook launches its new TikTok clone, Instagram Reels
Facebook's Instagram is officially launching its answer to the hit short video app TikTok — Instagram Reels. The new Instagram feature will let users record and edit 15-second videos with audio, and will let users add visual effects.
Gone for good? Evidence signals many jobs aren't coming back
WASHINGTON (AP) — Stark evidence of the damage the resurgent viral outbreak has caused the U.S. economy could come Friday when the government is expected to report that the pace of hiring has slowed significantly after a brief rebound in the spring.
US cruises are off through October after infections overseas
With new coronavirus clusters sprouting aboard ships overseas, the U.S. cruise industry is extending its suspension of operations through October.
Inside Big Tech: Pulling back the curtain with 'hot' email
WASHINGTON (AP) — The House Judiciary chairman was closing in on his Perry Mason moment with Facebook CEO Mark Zuckerberg. Fortified with “hot” internal company documents, Rep.
Telemedicine provider Teladoc to spend $18.5B on Livongo
One of the nation’s biggest telemedicine providers will spend more than $18 billion to stoke an approach to care that grew explosively during the pandemic and recently received an endorsement from President Donald Trump.
Alaska Airlines says 331 Anchorage employees face job cuts
ANCHORAGE, Alaska (AP) — Alaska Airlines said 331 employees among the company's workforce in Anchorage may lose their jobs on Oct.
Services sector index increases to 17-month high in July
WASHINGTON (AP) — Activity in the services sector, where most Americans work, hit a 17-month high in July but economists fear that may be unsustainable because of the failure in the U.S.